Petronet LNG says invoked force majeure on nine cargoes after COVID-19 lockdown

Petronet LNG Ltd (PLL), the country’s biggest gas importer, on Tuesday said it invoked the force majeure on nine cargoes after COVID-19 lockdown cut offtake by consumers. Petronet imports natural gas in its liquid form (LNG) from countries such as Qatar and Australia and pipes it to users such as power plants and fertiliser units after re-converting it into its gaseous state.

Petronet invoked the force majeure on eight liquefied natural gas (LNG) cargoes of Qatar and one from Exxon for loading from March to May. “Due to a nationwide lockdown imposed by the Government of India from the last week of March 2020, the offtake of regasified-LNG (RLNG) from the Dahej terminal (in Gujarat) was reduced.

“This decline in throughput was due to partial/full shutdown of a number of industries, refineries, power plants, etc, which reduced their offtake of natural gas as the demand of their respective products decreased,” Petronet said in a regulatory filing.

New Indian Express
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